Market correction

I have been writing this blog since Oct 2006. Going to be three years soon. It has been fun. There were not many blogs on stocks then. Now there is deluge of similar blogs. More the merrier. Investor education and sharing information is essential for creating wealth. Luckily India has found its sweet spot in world economic order and is on a long term growth path.

Presently markets are struggling to get past their immediate resistances. Price moves indicate bull bear fight. My reading suggests that this is a temporary phase of consolidation. Excesses of shorting since Oct 2008 have got resolved by now. They have squared off their shorts. Presently many longs are sitting on huge profits. They may want to take their money to the bank. It is a natural desire.

However plenty of money is still sitting outside the markets. That needs to move in. So dips will be temporary. Markets are likely to rise to higher highs. Stocks that have not yet returned to their past glories may be kept on our radar. It is their turn now.

rgds
Vibhas